Data from China for October:

October Industrial Production 6.1% y/y

  • expected 6.2%, prior was 6.1%
  • For the m/m, +0.5%

October industrial production YTD 6.0% y/y

  • expected 6.1%, prior was 6.0%

October Fixed Assets (excluding rural) YTD 8.3% y/y

  • expected 8.2%, prior was 8.2%

October Retail Sales 10.0% y/y

  • expected 10.7%, prior was 10.7%

October Retail Sales YTD 10.3% y/y

  • expected 10.4%, prior was 10.4%

Retail sales and IP both missed. Given the huge shower of stimulus into the Chinese economy and the strength of other data this is a bit of a surprise.

more to come

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Comments on the data from a stats bureau spokesman:

  • China economy showed upwards momentum and higher quality in October
  • China economy faces many instabilities and uncertainties, foundation still not stable